Lovable’s valuation doubles to $13.3BN as raises new funds
Tech.eu John Reynolds ● Covered by 8 sources
Lovable just raised $400m at a $13.3bn valuation. That’s more than twice its last round, and Europe’s new €5bn fund is in the mix.
Based on reporting by Tech.eu, John Reynolds — read the original for the full story.
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Swedish vibe-coding startup Lovable has pulled in $400m in fresh funding and now says it is worth $13.3bn. That is more than double the valuation it claimed in its last round, when it raised $330m at $6.6bn.
The Series C was co-led by Menlo Ventures and the Scaleup Europe Fund, the new €5bn vehicle managed by EQT. It also drew money from a long list of backers: Balderton Capital, Carmignac, Kaszek Ventures, LTS Growth, Tencent, World Innovation Lab and Regent. Earlier investors also came back, including Accel, Antler, CapitalG, DST Global, Evantic Capital, HubSpot Ventures and Salesforce Ventures.
Lovable launched in 2024 and sells software-building tools to people who do not code, part of the much-hyped vibe-coding wave. The company says apps built on its platform now see more than 900m visits every month. That is a useful signal that this is not just another demo-friendly AI toy with a slick landing page.
The funding will go into expansion, including a 50% increase in headcount to 450 this year across Sweden and the US. Lovable is also sticking with a multi-model setup, saying it will keep using several AI models rather than betting on one provider, while continuing to post-train promising open-source models. That matters because token costs are becoming a real pressure point for startups that rely on outside AI labs.
Lovable’s customers include Nvidia, Adidas and Zendesk. The company also has competition from Replit, and could face a much tougher fight if Anthropic or OpenAI push further into app creation.
My take — AI-written commentary, not fact-checked reporting
This is the kind of funding round that says more about investor hunger than software sobriety. Europe loves to talk about building sovereignty; here’s the reality, with Menlo, Tencent and a €5bn fund all piling in behind one of the region’s hottest AI startups. The part everyone should keep an eye on is the token bill, because glamour fades fast when the model invoices arrive.
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